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Sharp Corp. ADR (SHCAY)

- OTCPK - Current
  • Today, 2:49 AM
    | Today, 2:49 AM | 5 Comments
  • Fri, Aug. 28, 7:16 AM
    • Sharp (OTCPK:SHCAY) says it's considering various options for its LCD business after a report surfaced suggesting it may sell a majority stake in the struggling unit to Japan Display.
    • The company was once a highly profitable manufacturer of premium TVs and a favored screen supplier to Apple, but has recently come under heavy pricing pressure from Asian rivals.
    | Fri, Aug. 28, 7:16 AM | Comment!
  • Thu, May 14, 3:19 AM
    • Sharp (OTCPK:SHCAY) has secured a $1.7B bailout from banks, its second major rescue in three years, after its display business came under intense pricing pressure from Asian rivals.
    • Mizuho Bank and Bank of Tokyo-Mitsubishi UFJ will inject a combined ¥200B in a debt-for-equity swap, while Japan Industrial Solutions will provide ¥25B in funding.
    • Sharp also posted a full-year net loss of ¥222.4B ($1.9B) today, its third loss in four years.
    | Thu, May 14, 3:19 AM | 1 Comment
  • Mon, May 11, 2:00 AM
    • As part of its restructuring plan, Japan's Sharp (OTCPK:SHCAY) said it is considering a capital reduction and preferred share issuance, sending its stock down more than 26% today.
    • A person familiar with the matter said the loss-making electronics firm is planning to slash its capital from more than ¥120B ($1B) to just ¥100M.
    • Sharp expects to announce details of the capital plan, along with a $1.7B bailout from its main lenders, on Thursday.
    | Mon, May 11, 2:00 AM | Comment!
  • Thu, Apr. 16, 3:09 AM
    • Loss-making electronics firm Sharp (OTCPK:SHCAY) and its main banks will meet today to agree on a rescue and overhaul plan, marking the retailer's second big bailout since 2012.
    • The lenders will inject a combined ¥200B ($1.7B) in a debt-for-equity swap, while Sharp will cut 5,000 jobs, scale back its North American television operations and likely agree to spinning off its LCD unit.
    • Previously: Sharp to slash 10% of workforce in $1.7B restructuring (Mar. 19 2015)
    | Thu, Apr. 16, 3:09 AM | Comment!
  • Tue, Mar. 31, 7:58 AM
    • Canadian Solar (NASDAQ:CSIQ) has completed its acquisition of Recurrent Energy from Sharp (OTCPK:SHCAY) for $265M.
    • With the closing of the transaction, David Brochu has been appointed Recurrent's new CEO to replace Arno Harris. Michael Metzner, Recurrent's CFO, is also stepping down from his role.
    • CSIQ +1.2% premarket
    • Previously: Canadian Solar to acquire Sharp's Recurrent for $265M (Feb. 03 2015)
    | Tue, Mar. 31, 7:58 AM | 3 Comments
  • Mon, Mar. 30, 7:43 AM
    • Sharp (OTCPK:SHCAY) plans to keep making solar cell products at a high-tech factory in western Japan, dismissing talk it may sell or exit the unprofitable business.
    • "There is no truth to talk that we will quit, or sell, the solar business," said Kazushi Mukai, head of Sharp's energy operations.
    • The company expects a loss of ¥5B at its solar business for the fiscal year ending March 31.
    | Mon, Mar. 30, 7:43 AM | Comment!
  • Thu, Mar. 26, 7:27 AM
    • Sharp (OTCPK:SHCAY) may cut pay by 5% for managerial staff and by ~2% for others in fiscal 2015 to lower costs, the Nikkei reports.
    • The troubled electronics giant expects to save more than ¥10B ($83.7M) a year through the measures.
    • Last week, Sharp announced plans to cut 12% of its workforce in a global restructuring expected to cost more than $1.7B.
    | Thu, Mar. 26, 7:27 AM | Comment!
  • Fri, Mar. 20, 6:57 AM
    • Playing down rumors, Sharp (OTCPK:SHCAY) says it's not considering spinning off its liquid crystal display business as part of the bailout plan it's currently discussing.
    • "This is not something we announced, nor is it something we are considering," Sharp said in a statement.
    • Previously: Sharp to slash 10% of workforce in $1.7B restructuring (Mar. 19 2015)
    | Fri, Mar. 20, 6:57 AM | Comment!
  • Thu, Mar. 19, 2:50 AM
    • Loss-making electronics firm Sharp (OTCPK:SHCAY) plans to cut over 10% of its workforce, around 6,000 jobs, in a global restructuring that will cost over ¥200B ($1.7B), Reuters reports.
    • The job cuts will include around 3,000 in Japan through early retirement and 3,000 overseas.
    • Sharp expects to post its third annual net loss in four years for its fiscal year ending in March and has been in talks with lenders regarding another major bailout, its second since 2012.
    | Thu, Mar. 19, 2:50 AM | Comment!
  • Tue, Feb. 3, 8:18 AM
    • Canadian Solar (NASDAQ:CSIQ) +8.3% premarket after agreeing to acquire Sharp's (OTCPK:SHCAY, OTCPK:SHCAF) Recurrent Energy solar operation for $265M.
    • Recurrent, founded in 2006, has developed and sold more than 520 MW of solar projects and has a project pipeline of 3.3 GW and 1.1 GW in signed contracts, with developments across North America including California and Texas.
    • CSIQ says the purchase will increase its total solar project pipeline by ~4 GW to 8.5 GW and its late-stage project pipeline by 1 GW to 2.4 GW.
    | Tue, Feb. 3, 8:18 AM | 3 Comments
  • Dec. 7, 2014, 5:03 AM
    • Sharp (OTCPK:SHCAY) is set to sell its U.S.-based solar energy development unit Recurrent Energy to Canadian Solar (NASDAQ:CSIQ) for about ¥30B ($247M), reports the Nikkei business daily.
    • Sharp previously paid $305M in cash to acquire the business in 2010, although a sale would now help the company raise capital as it struggles to increase its equity ratio to a healthy level.
    • A basic agreement it expected by the end of the month, with a final sale in the spring.
    • Previously: Sharp continues to withdraw from solar industry (Sep. 08 2014)
    | Dec. 7, 2014, 5:03 AM | 9 Comments
  • Sep. 8, 2014, 4:32 AM
    • Stepping further back from the solar industry, Sharp (OTCPK:SHCAY) is looking to sell its U.S. solar-energy development unit Recurrent Energy.
    • Sharp previously paid $305M in cash to acquire the business in 2010, although a sale would now help the company raise capital as it struggles to increase its equity ratio to a healthy level.
    • Sharp stopped making solar panels in the U.S. and U.K. earlier this year and pulled out of a panel-manufacturing joint venture with Italy's Enel (OTCPK:ENLAY).
    | Sep. 8, 2014, 4:32 AM | 2 Comments
  • Aug. 22, 2014, 10:50 AM
    • Reuters reports Apple (AAPL +0.4%) originally wanted the iPhone 6 to use a single LCD backlight film layer instead of the normal two, but changed its mind after finding a single layer wasn't bright enough.
    • The about-face is said to have put screen assembly "on hold for part of June and July." Production is now back on track, and suppliers are "working flat-out to make up for lost time." The WSJ reported in July Apple has placed orders for 70M-80M iPhone 6 units to be produced by Dec. 30.
    • Japan Display, Sharp (OTCPK:SHCAY), and LG Display (LPL -2.6%) are reportedly the iPhone 6's LCD suppliers. Japan Display has previously said shipments for "a large customer" (believed to be Apple) might be delayed in calendar Q3.
    • Apple has shrugged off the report, and is trading near $101.
    | Aug. 22, 2014, 10:50 AM | 20 Comments
  • May 27, 2014, 3:54 PM
    • Renesas (RNECF) plans to sell its 55% stake in iPhone LCD driver IC supplier Renesas SP Drivers to Synaptics (SYNA +2.2%), Reuters reports.
    • Apple (AAPL +1.9%), which already develops its own app processors and fingerprint sensors, was previously reported to be interested in buying the stake for $479M. Reuters' sources state the talks failed to make progress.
    • Sharp (SHCAY) is expected to sell its 25% stake in the unit after Renesas makes its move. Renesas SP's LCD drivers stand to complement Synaptics' touchscreen controller and fingerprint sensor offerings for mobile OEMs.
    • Renesas SP had revenue of $575M in the fiscal year ending March 31. Syanptics is expected to post FY14 (ends in June) revenue of $918M.
    | May 27, 2014, 3:54 PM | 5 Comments
  • Apr. 1, 2014, 3:58 PM
    • The Nikkei reports Apple (AAPL +0.9%) is in talks with Renesas (RNECF) to buy its 55% stake in iPhone LCD driver IC supplier Renesas SP Drivers, and is looking to acquire it for ¥50B ($479M).
    • Sharp (SHCAY) owns 25% of Renesas SP, and Taiwan's Powerchip 20%. Sharp is expected to sell its stake to Apple if the company asks for a a deal after buying Renesas' interest.
    • Apple, which already develops its own app processors and fingerprint sensors, reportedly "wants to meld the design of core display components into overall product development."
    • A deal could be a positive for Himax (HIMX +3.9%) and MagnaChip (MX -0.6%), given Renesas SP's other clients would start looking for alternative LCD driver suppliers. Renesas SP has an estimated ~33% share of the market for small and mid-sized LCD drivers/controllers. It had revenue of ¥60B ($575M) during the fiscal year ending March 31.
    • Earlier: 4.7" iPhone LCD production reportedly set to start
    | Apr. 1, 2014, 3:58 PM | 10 Comments
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Company Description
Sharp and its subsidiaries are engaged in the manufacture and sale of consumer/information products and electronic components. Co.'s principal business segments are electronics equipment and electronics parts. Co.'s products include LCD color TVs, high vision TVsl color TVs, TV/VCR combos, DVD... More
Sector: Technology
Country: Japan